Everspin Announces Leadership Changes
December 15 2020 - 5:17PM
Business Wire
Everspin Technologies, Inc. (NASDAQ: MRAM), the market leader in
MRAM, today announced that Kevin Conley has notified the company of
his decision to resign as President and CEO and as a member of
Everspin’s Board of Directors, effective January 30, 2021. Darin
Billerbeck, currently non-executive Chairman of the Board, will
become interim CEO, effective January 30, 2021, and has also been
appointed as Executive Chairman of the Board, effective December 9,
2020.
Darin brings a wealth of knowledge and experience in the
semiconductor memory market, previously serving as the VP/GM of
Intel’s Flash memory group, President and CEO of Zilog, and
President and CEO of Lattice Semiconductor. Darin has served as a
member of the Board since August 2018 and as non-executive Chairman
of the Board since March 2019.
“I’m excited to join the Everspin executive team to help drive
growth and profitability along with increasing shareholder value,”
stated Mr. Billerbeck, “I want to thank Kevin for his contributions
over the past 3 years. On behalf of the Board of Directors, I wish
him well in his future endeavors.”
Updated Revenue Guidance for the Fourth Quarter of
2020
For the fourth quarter of 2020, Everspin currently expects total
revenue in a range between $10.1 million and $10.5 million. This
compares to guidance of a range of $10.1 million to $10.9 million
previously provided on November 5, 2020.
Upcoming Investor Conferences
There will be no conference call associated with this
announcement. Everspin’s CFO, Daniel Berenbaum, will participate in
the following investor conferences:
- 12th Annual Virtual CEO Summit on December 16th, 2020
- 23rd Annual Needham Virtual Growth Conference on January 11th
through 15th, 2021
Portfolio managers and analysts who would like to request a
meeting with management should contact a representative of the
respective firm or Everspin’s investor relations.
About Everspin Technologies
Everspin Technologies, Inc. is the world’s leading provider of
Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s
most robust, highest performance non-volatile memory for Industrial
IoT, Data Center, and other mission-critical applications where
data persistence is paramount. Headquartered in Chandler, Arizona,
Everspin provides commercially available MRAM solutions to a large
and diverse customer base. For more information, visit
www.everspin.com. NASDAQ: MRAM.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements regarding
future results that involve risks and uncertainties that could
cause actual results or events to differ materially from the
expectations disclosed in the forward-looking statements,
including, but not limited to the statements made under the caption
“Business Outlook.” Forward-looking statements are identified by
words such as “believe,” “will,” “may,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “expect,” “predict,”
“could,” “potentially" or the negative of these terms or similar
expressions. These include, but are not limited to our future
plans, strategies, objectives, expectations, intentions and
financial performance and the assumptions that underlie these
statements. Actual results could differ materially from these
forward-looking statements as a result of certain risks and
uncertainties, including, without limitation, the risks set forth
in Everspin’s Quarterly Reports on Form 10-Q filed with the
Securities and Exchange Commission (the “SEC”) on August 6, 2020
and November 5, 2020 under the caption “Risk Factors” as well as in
our other filings with the SEC. Any forward-looking statements made
by Everspin in this press release speak only as of the date on
which they are made and subsequent events may cause these
expectations to change. Everspin disclaims any obligations to
update or alter these forward-looking statements in the future,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20201215006145/en/
Daniel Berenbaum, CFO T: 480-347-1099 E:
daniel.berenbaum@everspin.com
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